Mumbai, 12th November 2024:
Bollywood Actor Shahid Kapoor and his wife Mira Kapoor have leased out their luxurious apartment in the Worli area of Mumbai for ₹20 lakh per month, with a five-year rental agreement, as per property registration documents reviewed by the media.
The apartment, located in Oberoi Realty’s Three Sixty West project, spans 5,395 sq ft and comes with three parking spaces, according to the documents. The lease agreement, registered on November 7, 2024, is for a duration of 60 months and has been rented to Dipan Bhuptani, a senior executive at D’Decor Home Fabrics. The initial security deposit for the property is ₹1.23 crore.
According to the media reports, the property is expected to generate a gross rental yield of 4-5%. The rental agreement follows a tiered structure, with the monthly rent starting at ₹20.5 lakh and increasing to ₹23.98 lakh by the end of the lease term. The first 10 months are rent-free, as per the terms outlined by Square Yards.
The apartment, originally purchased by the Kapoors in May 2024 for nearly ₹60 crore, is located on a higher floor of the building. The property was part of a bulk deal in February 2023 when 28 apartments were acquired by Radhakishan Damani’s family and associates for ₹1,238 crore.
Shahid Kapoor is now among a growing number of celebrities who have leased out their luxury properties in Mumbai. Other notable figures recently renting out their homes include Kartik Aaryan, Ranveer Singh, and producer Sajid Nadiadwala.
